SunTrust Banks Reiterates Buy Rating for Glacier Bancorp (GBCI)

SunTrust Banks reiterated their buy rating on shares of Glacier Bancorp (NASDAQ:GBCI) in a research note published on Tuesday, January 9th. SunTrust Banks currently has a $43.00 price objective on the bank’s stock. SunTrust Banks also issued estimates for Glacier Bancorp’s Q1 2018 earnings at $0.53 EPS, Q2 2018 earnings at $0.56 EPS, Q3 2018 earnings at $0.58 EPS, Q4 2018 earnings at $0.57 EPS, FY2018 earnings at $2.23 EPS and FY2019 earnings at $2.47 EPS.

A number of other research firms have also recently weighed in on GBCI. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $41.00 target price on shares of Glacier Bancorp in a research note on Friday, December 22nd. Zacks Investment Research cut shares of Glacier Bancorp from a hold rating to a sell rating in a research note on Wednesday, September 20th. BidaskClub raised shares of Glacier Bancorp from a hold rating to a buy rating in a research note on Saturday, December 2nd. Finally, Piper Jaffray Companies set a $38.00 target price on shares of Glacier Bancorp and gave the stock a hold rating in a research note on Saturday, October 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $41.25.

Shares of Glacier Bancorp (NASDAQ:GBCI) traded up $0.09 during trading hours on Tuesday, reaching $39.22. 345,165 shares of the company were exchanged, compared to its average volume of 321,666. The company has a market capitalization of $3,076.59, a PE ratio of 26.15, a price-to-earnings-growth ratio of 1.77 and a beta of 1.45. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81. Glacier Bancorp has a fifty-two week low of $31.38 and a fifty-two week high of $41.23.

Glacier Bancorp (NASDAQ:GBCI) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). The firm had revenue of $117.54 million during the quarter, compared to the consensus estimate of $122.23 million. Glacier Bancorp had a net margin of 23.88% and a return on equity of 11.46%. sell-side analysts predict that Glacier Bancorp will post 2.23 EPS for the current fiscal year.

In other news, Director Michael J. Blodnick sold 25,338 shares of Glacier Bancorp stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $38.38, for a total transaction of $972,472.44. Following the transaction, the director now owns 25,497 shares in the company, valued at $978,574.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Don J. Chery sold 12,000 shares of Glacier Bancorp stock in a transaction on Friday, December 8th. The stock was sold at an average price of $38.29, for a total transaction of $459,480.00. Following the transaction, the insider now owns 30,270 shares in the company, valued at approximately $1,159,038.30. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in GBCI. Schwab Charles Investment Management Inc. lifted its holdings in Glacier Bancorp by 2.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 395,892 shares of the bank’s stock valued at $14,494,000 after buying an additional 9,858 shares during the period. Victory Capital Management Inc. lifted its holdings in Glacier Bancorp by 8.1% in the second quarter. Victory Capital Management Inc. now owns 18,705 shares of the bank’s stock valued at $685,000 after buying an additional 1,399 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Glacier Bancorp by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,173 shares of the bank’s stock valued at $116,000 after buying an additional 283 shares during the period. Swiss National Bank lifted its holdings in Glacier Bancorp by 2.0% in the second quarter. Swiss National Bank now owns 128,500 shares of the bank’s stock valued at $4,704,000 after buying an additional 2,500 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Glacier Bancorp by 42.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 21,227 shares of the bank’s stock valued at $776,000 after buying an additional 6,359 shares during the period. Institutional investors and hedge funds own 81.73% of the company’s stock.

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About Glacier Bancorp

Glacier Bancorp, Inc is a bank holding company. The Company provides commercial banking services. As of December 31, 2016, it provided banking services from approximately 140 locations in Montana, Idaho, Wyoming, Colorado, Utah and Washington, through its bank subsidiary, Glacier Bank (the Bank). It offers a range of banking products and services, including transaction and savings deposits, real estate, commercial, agriculture, and consumer loans and mortgage origination services.

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